In the first half of 2022, despite many unfavorable factors such as the outbreak of the epidemic, chip shortage and continued rise in raw material prices, BYD still broke through strongly in the new energy vehicle market. Why can BYD become the new face of the Fortune 500 in the world? Behind it is the road of adhering to the upward path of self-developed technology and brand. With the empowerment of core technologies in the entire industrial chain of new energy vehicles, BYD's market potential continues to explode, and the road to "take-off" continues, which will continue to drive the continuous transformation of China's new energy vehicles.
insists on self-developed technology brand breaks through
Since this year, BYD has been making great progress in the new energy vehicle market, achieving a "double harvest" in sales and revenue. It is not surprising that it has entered the Fortune World 500 this time.
This year, under the pressure of the epidemic and supply chain shortage, BYD achieved counter-trend growth with a strong trend, selling 134,036 vehicles in June, a year-on-year increase of 162.7%. In the first half of the year, the cumulative sales exceeded 640,000 vehicles. Not only did it firmly ranked first among domestic new energy brands, but it also surpassed Tesla to become the global new energy vehicle brand sales champion.
Previously, Tesla firmly occupied the top spot in the sales of new energy vehicle brands, while BYD achieved a significant breakthrough in the field of new energy vehicles, surpassing Tesla in sales, injecting a "booster" into the development of China's new energy vehicles.
sales growth has brought significant profits to BYD. On July 14, BYD released its performance forecast, expecting the net profit attributable to shareholders of listed companies in the first half of 2022 to RMB 2.8 billion to RMB 3.6 billion, a year-on-year increase of 138.59% to RMB 206.76%.
Photo provided by the respondent
Regarding the reasons for the sharp increase in net profit, the performance forecast pointed out that the sales growth momentum of new energy vehicles has been strong, setting historical highs repeatedly, achieving rapid growth year-on-year, driving a significant improvement in profits. To a certain extent, hedged against to a profit pressure brought by upstream raw material prices. In terms of mobile phone parts and assembly business, the demand in the consumer electronics industry is weak, and profitability has recovered due to the improvement of cost control capabilities and product structure adjustment.
Why has BYD made great progress in the field of new energy vehicles? Behind this is that BYD has deepened its self-developed technology, insisted on taking the road of brand improvement, and has changed consumers' impression of China's new energy vehicles with its strong product strength.
At present, BYD also masters the core technology of the "three electrics" of electric vehicles. By integrating battery, motor and electronic control technologies, it achieves "self-sufficiency" of core components, and has the core technology of the entire industrial chain of new energy vehicles.
Photo provided by the interviewee
BYD's blade battery is developed based on the principle of CTP technology. Through process innovation, the battery cell length has been increased, its volume energy density has increased by 50%, its life span can reach 1.2 million kilometers, but the cost has been reduced by 30%. Its current market share is far ahead. BYD focuses on the super hybrid DM-i with low fuel consumption, and strives to achieve "fast, saving, quiet, smooth and green". With the two major technical support of high-power motors and large-capacity batteries, BYD models have once again made a qualitative leap.
, and BYD e-platform 3.0 claims to have "spent five years, spent 10 billion yuan, and invested 4,000 people in research and development". It is the master of BYD's electric technology, realizing the platformization of three levels from three-electric parts - key systems of the vehicle - complete vehicle architecture, and the integration of the electric platform has gradually improved.
In 2022, BYD continued to deepen its efforts in e-platform 3.0 and launched the CTB battery body integrated technology, which will fully ensure battery safety and is of constructive significance to the entire industry.
Photo provided by the interviewee
Market potential continues to explode New energy transformation deepens
With the empowerment of core technologies in the entire industrial chain of new energy vehicles, BYD's "take-off" road continues, especially in the high-end market and overseas markets, BYD's potential continues to explode.
In the first half of this year, the BYD Han family sold a total of 96,950 vehicles, successfully surpassing Tesla Model 3, winning the sales championship in the high-end new energy sedan market.In the head-on competition with traditional fuel vehicles, the Han family has opened up a gap with the BBA three-horsepower car BMW 5 Series , Mercedes-Benz E-Class , and Audi A6L in the mid-to-large sedan market, gaining a significant lead. With the successful breakthrough of the two markets, the Han family has become the first domestic brand sedan model of a Chinese brand to successfully impact and stand firm in the high-end market.
This also means that from the "low-end" in the past to the "high-end" today, the road to high-end of independent brands is not that they cannot be taken, but that they are not only stuck in the "slogan", but also that they must improve their comprehensive product strength and achieve brand leap.
Photo provided by the respondent
BYD Auto Brand and Public Relations Department General Manager Li Yunfei said that high-end brands and logos will be released in the third quarter of this year, and the first model ( hard-core off-road vehicle ) will be released globally in the fourth quarter, and the first model will be launched in the first half of 2023. High-end brands will use BYD's most cutting-edge automotive technology, representing BYD's strongest capabilities in electrification and intelligence. According to the current product plans, the price range of high-end brands is expected to be between 800,000 and 1.5 million yuan, and a brand, product, sales service network, and operation team will be newly built.
and BYD's eyes are also aimed at overseas markets. On July 21, BYD JAPAN Co., Ltd. held a brand launch conference in Tokyo, announcing its official entry into the Japanese passenger car market and unveiling three models, namely PLUS, Dolphin and Seal. BYD's entry into the mature Japanese market this time represents the true growth of Chinese auto companies into world brands with international competitiveness, and is also a milestone in its overseas journey.
At present, BYD's new energy vehicle products have spread to more than 70 countries and regions on six continents around the world, and have become the first Chinese automobile brand to successfully enter developed automobile regions such as Europe, the United States, Japan and South Korea. BYD's entry into the Fortune list is a positive signal for the development of China's independent new energy vehicles. It will continue to drive upward breakthroughs in Chinese automobile brands and lead the continuous deepening of new energy changes in the automobile industry.
[Reporter] Gong Qianshu Wei Hongquan
[Author] Gong Qianshu; Wei Hongquan
Southern Industrial Think Tank
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